I’ll just come right out and say it…. If you are not selling your product or service to corporations and other large organizations you are leaving money on the table in your business. As a matter of fact, you are leaving MASSIVE money on the table!!!
Did you know?
- Corporations spend $8.73 TRILLION every year on goods and services?
- Most major corporations are committed to spending a large sum of that money with minority and women business owners?
- When you add corporate clients to your business you can increase your revenues by 266% in just 2 years?
- 63% of small business owners who sell to corporate clients earn over $500k per year, while 77% of those you do not, earn less than $500k per year?
That is great news for YOU!!! There is a tremendous amount of opportunity in working with large corporations. They buy almost everything imaginable AND they can afford to pay you what you’re worth! No more prospecting to clients that would love to buy your product or service but just doesn’t have the funds to do so…
The bottom line is small business owners WANT to do business with large corporations and large corporations WANT and NEED to do business with small business owners. Sounds like a win-win, right? Well not so fast…Before you start knocking on the doors of corporate prospects there are some things you should know, pitfalls to avoid, and things you can do to enter this new area of business successfully.
Follow these tips to get out of the gate the right way:
1. Be the go-to expert in your field. You can do this by narrowing your focus to a specific industry or focusing on a very specific offering. For example, if you are an executive coach it will help differentiate you from the hundreds of others by focusing on the health care industry for instance. That way if hospital CEOs are your target, they will immediately see the need to work with YOU over your competitors.
2. Highight the end results to the organization as a whole. Corporations write checks for things that positively impact their bottom line, save them time, etc. When focusing on the outcomes of working with you, do not only focus on the end results of the person working directly with you, focus on the results to the corporations overall. This is a great way to get the decision maker to say YES. For example if you offer health and wellness services do not draw attention to the fact that you help employees “feel better,” focus on the fact that healthier employees are more productive which directly flows down to the bottom line.
3. Network strategically. It is important to network where individuals from corporations will be. Most places that small business owners network are full of other small to medium-sized business looking to sell to small to medium-sized businesses. Check out your local business paper for events that will be filled with people who either has the authority to give you a contract or who can introduce you to the person who can.
4. Be business ready. If you do not have proper systems and team in place to support you, get them in place before going after corporate contracts. This can be full or part time employees, interns, or on an as-needed basis. Taking the time to get this in order will not only allow you to execute well once the contract has been awarded, but will free up your time to concentrate on other prospects.
5. Get support and guidance. The 2 things that keep people from accomplishing most things in business and life is 1) lack of information and 2) lack of support and guidance. Take inventory of the areas in your business that needs improvement and find a coach or a mentor to help you in those areas.
Working with corporate clients is THE fastest and most effective way to boost your revenues. Once and for all lets say adios to mediocre profits and financial struggle.. It’s time to get the financial rewards you deserve….